Barclays Shakes Up Senior Management Team

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In keeping with Barclays' 2015 strategic initiatives, a plan known internally as the Transform Programme, the Wealth and Investment Management (WIM), Corporate and Investment Banking (CIB), and Barclays' Americas units will have new leadership, the company announced today.

Rich Ricci, current CEO of Barclays CIB division will step down from his post effective May 1. In his place, Barclays has named current head of markets, Eric Bommensath, and head of investment banking, Tom King, as co-CEOs of CIB. Ricci is retiring from Barclays June 30, and will assist with the leadership transition.

Peter Horrel, an executive in Barclay's Wealth and Investment Management division, will assume the interim CEO role in that division effective May 1. The current CEO and executive chairman of the WIM unit, Tom Kalaris, will retire from Barclays June 30. As is the case with Ricci, Kalaris will step down from his CEO role, but remain with Barclays until June 30 to aid in the change of leadership.


Barclay's group CEO Antony Jenkins has also appointed Skip McGee as CEO of Barclays Americas. McGee's new role becomes effective May 1, and he will report directly to Jenkins. McGee joined Barclays in September 2008.

According to Jenkins, Barclays senior management changes will "strengthen our ability to execute the Transform Programme and drive us toward our goal of becoming the 'Go-To' bank for all of our stakeholders."

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The article Barclays Shakes Up Senior Management Team originally appeared on Fool.com.

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